Fox River Valley State Bank v. East

This suit is based upon three promissory notes signed by defendant. The defense was that the notes were obtained by fraudulent representations, and that the plaintiff was not a good faith holder for value. Defendant had verdict, and plaintiff assigns error.

Defendant showed upon the trial that the notes in suit were obtained from him by one D. L.' Reed, a stock salesman, upon the promise that they were not to be sold, but were to be deposited in the bank and used as a security in his stock-selling operations. At the same time Reed executed his notes for a like amount and delivered them to…